Thank you! I will do just that. ... View more

Great topic! ... View more

I agree with HTSU and Shootingstar. It's a great opportunity and this is helpful/hopeful information. Good luck too you! ... View more

O6 wrote:   AmEx's inside collections dweebs are in two confirmed locations and one other possible location:   1.  Omaha, NE:  (888) 586-9767 or (866) 462-5235.  These people have half a dozen other toll-free #s, too.  They can offer Oasis and if you ask they will do so in writing.  Ask for extension 22043.  The guy (his name sounds like a kind of candy) is professional.    2.  Kennesaw, GA:  (800) 456-4729 or (336) 393-1111.  Can also offer Oasis, but force them to do so in writing.  They will try to get out of putting it in writing, but in the end they will if you push.   3.  Houston, TX:  (877) 832-8325.  This one is an unknown.  It is AmEx and it quite possibly is collections, but not sure if it is an inside collector or not.  Only inside collectors can offer Oasis.  Thank you O6! This is helpful. I didn't realize there were several numbers we can use. I hope everyone will post their experiences after they call Amex. I plan on doing so. ... View more

OK, the benefits are definetly worth it! Thanks ... View more

Yes. This great advice. I have one more question for clarity. For those of you who have applied for more than one card post Oasis, do all of the tradelines retain the old history or just the first card? ... View more

I'm still trying to figure out how I would benefit from asking to join the Amex Oasis program other than paying off an old debt and regaining the history. It seems like I will be held prisoner by Amex for a year or so if my goal is to open another card. I will have to cancel the Oasis card (losing the history - right?) in order to get a better card.   Hummmm.... ... View more

Thank you FUSED! ... View more

@RobertEG wrote: Really, a very good question. FICO has a major category of credit scoring, called "utilization of credit."  It is a generic term, often applied to indiv accounts. That is 30% of your credit score. But it then quickly breaks down into many sub-factors that are also called "utilization." under that 30% FICO weighting umbrellla. I list those terms, in my perceived level FICO significance:   1. % util of overall revolving credit.  CLEARLY the most significant util factor. 2. % util of each indiv revolving credit account. 3. Number of revolving accounts showing reproting period  balances of more than $0 at the end of each monthly reporting cycle(low significance) 4. % util on installment loans (very,very low significance.)     LOL Thanks Robert. I needed the abbreviation and you graciously gave me a thorough definition. ... View more

@Anonymous wrote: I just went through the Oasis program. I had a 20-year-old debt with AMEX from my college days that I thought had been paid many years ago.  When I got a letter from them last year asking for $350ish dollars, I figured that my memory must be wrong.  I paid the debt and received an Optima card with a $500 limit.   Once I'd spent a year in Oasis, I called AMEX and talked to a half-dozen people about applying for a different card.  They all gave different answers about what to do and who to talk to.   Finally, I was told to call the folks at "apply by phone" and apply for a new card.  I did that and was promptly denied.  It was pretty shocking.  My FICO score is 800 and my household income is well over $100,000 a year.  I was told on the phone that I would get an email in a few minutes explaining the reason for the denial.    I got the email about three days later.  It said I was denied another AMEX card because I was the owner of a "recovery product".  I called AMEX again and was told to call more people and jump through more hoops.  Even the folks in the Oasis office had no idea what to tell me.  They said they only handle collections.  Finally, I reached a person in customer service who confidently explained that I must cancel the Optima card, then wait 24-48 hours before applying again.  I thanked her for at least knowing what to tell me, then asked her to cancel the card immediately.  I also let her know that after all the hassle I'd gone through, I might not re-apply.   A week later, I decided that it was worth the annoyance to keep a 20-year-old line of credit.  I bit the bullet and my phone application for a Blue card was accepted with an $8,000 limit.   I'm not happy with AMEX.  I did what they asked to prove myself to them.  Now they need to prove themselves to me before I make any of their cards my primary card. So you did cancel your Oasis card before you applied for the Blue Card? Did you keep your 20year history? ... View more

@Anonymous wrote: Thanks 06 and Scarlet- Yes, my letter has the same thing written on back. My biggest fear is getting it listed as a new derog if I pay it. Kind of a Catch-22, huh? I'm thinking I'm probably better served just leaving things as it is knowing that AMEX will never invite me back...... I feel the same way. But the right offer may change my mind. :-) ... View more

@ScarletFever wrote: Good look-out 06..I just checked the back of my settlement letter, and it says no attempts will be made to collect the balance if you settle, but "remaining balance which would need to be paid before American Express processes any future applications that you may choose to submit for an American Express account(s).   InDallas (Love the Cowboys..) I have received 5 settlements letters from AMEX-all past SOL-and every time I made an offer in writing to settle for full amount if they could show I owe the debt, and if I can re-establish the trade-line. Not once did they respond. Of course, if you talk to AMEX, perhaps the human interaction will move things along, but having dated, timed, correspondence is my preferred method so as to cover myself. I suggest PIF if you can, and make sure AMEX does not report the payment as a new derog..get any agreement in writing. Hello! I thought making an offer to settle a debt after the SOL would reset the clock? I guess this didn't happen because you didn't acknowledge the debt and they could not confirm it? ... View more

@ScarletFever wrote: I feel ya' Mr. Slush. Is AMEX so cynical that they know-or at least think they know-that pre-approvals to alleged CO customers are known, perhaps using the offer as bait to get a former customer back into the fold? I can't believe AMEX is that devious, or smart. I still think it's a matter of process; when they soft, inquiries give basic infor regarding recent payment history, score, etc..anyone with actual knowledge on this subject? I'd love to hear from  forum members on this... Good questions. I didn't realize they have to pay for each soft pull. ... View more

@ScarletFever wrote: A year? Wow.. you rock! I have been at it for two years, and my scores are CRAWLING upwards! I hate that. I hope you get Oasis. Do you know for sure if Oasis is still available? Can you contact them about it? Thanks. It was a huge sacrifice. I paid off my revol cards and paid down/off my bank cards, with a few neg tradelines falling off...my scores took off.. here are a couple of links about my journey...   http://ficoforums.myfico.com/t5/General-Credit-Topics/Encouragement-for-those-with-bad-credit   http://ficoforums.myfico.com/t5/Understanding-FICO-Scoring/OMG-Score-Watch-Alert-Today-15-801-to-816   Keeping a healthy FICO score and a clean credit history is like a gardening. The more care you give it, the better it will grow...   As for the Oasis program, from what I understand, it still exists. ... View more

Thank you. Thanks to the FICO Forums I was able to clean up my credit the right way and to get my scores up within a year or so. I'm grateful. Yes, they've sent me settlement offers. I'm waiting on an Oasis offer though. ... View more

They treated me like crap when I defaulted due to hardship years ago. The tradeline fell off a couple of years ago. ... View more

No offers for me in the past two years. No, green, blue or gold. ... View more

Thanks for all of your advice. I'm glad I asked. I planned on taking a couple of cards. I will be sure to carry a mixture (Discover, BofA Amex and Citi Mastercard) I've heard stories about individuals not being able to access cash from their ATM cards. I'm with a credit union. Should I anticipate issues?  ... View more

@Anonymous wrote: @bakalao2k wrote:   @BBYGRL wrote: @bakalao2k wrote: I've posted this before, but I didn't use the Oasis program to pay off a charged off AMEX account with a member date of 1989.  I contacted the collections department and they told me what the charged off balance was and I paid it off in full.  I guess this removed me from the 'blacklist' and I was able to open up a AMEX Blue card with a 12000 limit.     The people I spoke with in the collections department said the Oasis program isn't being offered anymore. "The Oasis program isn't being offered anymore" - That's interesting. I wonder if this happened before or after the gov bailout?  When did you pay off your balance and how long did it take for you to get your new card? I guess you didn't get your history back hua?   Has anyone posted that they received an Oasis offer lately? I just received a settlement offer. I plan on paying it off soon but I dare not let them know until I'm ready. I refuse to reset the SOL. I paid the balance in full before the new credit card act went into effect, but I don't think the timing of that payment had any bearing on my ability to open an AMEX Blue card with a member date of 1989.   AMEX has been softing my credit report for a long time before I opened the Blue account.   Although AmEx does soft for promotional purposes, too, they will also soft someone until the end of the world if they owe AmEx even $1.00. This so true. I get a lot of soft hits from AmEx, sometimes two on the same day. ... View more

Since it's been more than 6 months, I wonder if you can up upgrade your card so you won't lose your history? Personally, I wouldn't close the account.  Did they contact you about the program or did you inquire? ... View more

@Anonymous wrote:   @Anonymous wrote: @Anonymous wrote:   @Anonymous wrote: I was offered oasis sometime in March, decided not to participate since my CL would have been $500, 1/2 of what I owed them. Later last month got approved for their Zync card with a member since 1992 date. I'm waiting a month to check my CR to se what it says for opening date, see if it increases my chances of gaining history. Now this is interesting stuff! It goes against all that we were led to believe. If you don't mind, how much did you owe them, when did you default on your account, what are your scores now, and what sort of terms did you get on the Zync?   You aren't sassuming that cd73 obtained the new AmEx card while still in default on the original card, are you?   My understanding from a previous post was that he paid off the default, but chose not to go into Oasis.  Then, after being removed from the AmEx blacklist, he applied for the new AmEx card on his own. Rats! Yes, I was assuming that scenario as he left that crucial bit of information out of his reply.   That is a critial piece of information.   You have to pay off the debt to get back in their good graces. ... View more

Good for you!  I really do hope it works out for you. Keep us posted. ... View more

@Anonymous wrote:   @Anonymous wrote: I was offered oasis sometime in March, decided not to participate since my CL would have been $500, 1/2 of what I owed them. Later last month got approved for their Zync card with a member since 1992 date. I'm waiting a month to check my CR to se what it says for opening date, see if it increases my chances of gaining history. Now this is interesting stuff! It goes against all that we were led to believe. If you don't mind, how much did you owe them, when did you default on your account, what are your scores now, and what sort of terms did you get on the Zync?   What is the Zync card? How is is different from the other cards? ... View more

Congrats! That's great! ... View more

Trust me when I say they don't forget...  You may have awakened a beast. If you can pay it, you should do so and then apply for another card. I plan on doing the same in a few months. Good luck. ... View more

I was instantly approved last Feb after I bought my house and they gave me $1k CL. I charged $75 and received a $25 instant rebate. I PIF the balance in April and come to find out my CL increased to $4,500. Um, ok? IMHO the interest rate is still too high but it's good to know I have the card just in case... ... View more

@bakalao2k wrote: I've posted this before, but I didn't use the Oasis program to pay off a charged off AMEX account with a member date of 1989.  I contacted the collections department and they told me what the charged off balance was and I paid it off in full.  I guess this removed me from the 'blacklist' and I was able to open up a AMEX Blue card with a 12000 limit.     The people I spoke with in the collections department said the Oasis program isn't being offered anymore. "The Oasis program isn't being offered anymore" - That's interesting. I wonder if this happened before or after the gov bailout?  When did you pay off your balance and how long did it take for you to get your new card? I guess you didn't get your history back hua?   Has anyone posted that they received an Oasis offer lately? I just received a settlement offer. I plan on paying it off soon but I dare not let them know until I'm ready. I refuse to reset the SOL. ... View more